Energy has long moved away from being a technical subject for experts. It is now one of the central policy challenges at all levels of government in Europe. Mastering Europe's energy challenges, however, calls for considerable investment efforts in new technologies and projects.rnThis is especially so given the EU's commitment to a 20% reduction of greenhouse gas emissions by 2020, to a 20% renewable energy share of overall consumption and a 20% improvement in energy efficiency. Since setting its first targets for renew-ables in 2004, the EIB's corporate plan has responded to the challenges by setting energy as a new priority objective in 2006.rnThe Bank is in the process of further reinforcing its policy in this direction, notably on renewables and energy efficiency.rn"We are all conscious that the cost of achieving climate change objectives will be very significant and that technological advances and their widespread use becomes critical," said EIB president Philippe Maystadt.rn"We must therefore work hard to ensure that the financial support we provide reaches the relevant markets to maximise investment and the impact of our actions combating climate change."rnMaystadt was speaking at a Paris conference on the European Strategic Energy Technology (SET) Plan organised by the French Presidency.
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